This archive report was first published on 26 November 2019.
On November 25, 2019, Finnish telecoms gear maker Nokia announced a management reshuffle, leaving company veteran Joerg Erlemeier without a job. Erlemeier, who has been with the company for 25 years and served as chief operations officer for the past two years, was responsible for global operations and procurement, the overall operating model, and the implementation of cost savings.
Erlemeier's departure comes after Nokia cut its outlook for this year and next due to the need to step up investment in 5G. This move sent the company's share price down by a third. Nokia also suspended dividend payments to conserve cash and pledged to speed the introduction of new 5G chipsets.
